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- The Asia Pacific Group(APG) may put Pakistan on an enhanced blacklist as the country has failed to meet global standards on money laundering and terror financing.
- In June 2018,Financial Action Task Force(FATF) had already greylisted Pakistan for failing to curb anti-terror financing.
- However,the two processes are separate as APG blacklisting status would impair Pakistan’s chances at removing itself from the FATF greylist.
- According to the APG’s report,Pakistan has failed in enforcing safeguards against terror-financing and money-laundering by UN-sanctioned entities and other non-government outfits.
- The APG is the FATF-style regional body for the Asia-Pacific region.APG was founded in Bangkok,Thailand in 1997 as an autonomous regional anti-money laundering body by unanimous agreement among 13 original founding members.
- The Asia Pacific Group currently consists of 41 members including India.It is focused on ensuring that its members effectively implement the international standards against money laundering,terrorist financing and proliferation financing related to weapons of mass destruction.
